Vladimir Putin: Efforts to improve the investment climate in Russia were not in vain

29th October 2014

The Head of the State comments on raising the country's position in Doing Business ranking

Russian President Vladimir Putin believes that the rise of Russia's position in Doing Business ranking shows that the efforts of the authorities to improve the investment climate are producing the result. “Our efforts were not in vain”, - he said at the meeting of “Valdai” club, commenting on the recent decision on advancing Russia in this ranking.

Putin reminded that last year Russia ranked third in the world in terms of attracting foreign investment – about $ 93 billion. The President believes that, despite the sanctions, the country's development continues, “it is impossible to stop it”.

The Head of the State reminded that the program of business climate development in the country has been elaborated, and together with the business community a plan of de-bureaucratization has also been developed, which includes restoring order in the banking system, protection of private investment. “Thisisawiderange. And we still manage to implement this action plan”, - said Putin.

He recalled that Siberia and the Far East should become one of the points of growth, where emphasis will be placed on benefits for the so-called “Greenfields”, as well as the creation of the territory of advanced development in the Far East.

In a new ranking of the World Bank's Doing Business Russia will occupy 62nd place. In last year's report, our country was on the 92nd place.